Monday, May 14, 2012

A Funny Thing Happened On The Way To The Unemployment Numbers

The headline reads; 'Unemployment Rate Falls To 8.1 Percent As People Give Up On Looking For Work'. So what does that mean to those of us on the ground trying to buy groceries and put our children through college?

8.1 percent is pretty good compared with the 10 plus percent of six months ago but these figures are misleading. The unemployment figures count those people, and only those people, that are actively collecting 'Unemployment Insurance Checks'.

If your benefits have run out you are not counted even though you are still unemployed.

If you have been out of work for an extended time and may have given up looking for a job you are not counted.

If you are one of the thousands of 'Underemployed' you are readily counted as working even though underemployment means you may well be working for a less than living wage. A college graduate flipping hamburgers at a fast food place is a terrible sight but people do what they need to do to keep their family fed.

I have heard 'Actual Unemployment Numbers' estimated from 15% to 18%.

Do not let politicians fool you into thinking the economy is getting better by leaps and bounds. If you are in the trenches, like so many are these days, you know the truth. Look beyond the numbers. Numbers tell you nothing really.

Look into the eyes of the unemployed. That is where the real story lies.

"For me, there will be no enemies but unemployment, the deficit, excessive debt, economic stagnation and anything else that keeps our country in these critical circumstances."~~Mariano Rajoy Prime Minister Spain 

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